MSTC galloped 6.82% to Rs 288.10 after the company's consolidated net profit soared 1,510% to Rs 75.83 crore on 60.5% jump in revenue from operations to Rs 311.18 crore in Q4 March 2021 over Q4 March 2020.
Profit before tax surged 195.3% to Rs 59.95 crore in Q4 FY21 as against Rs 20.30 crore in Q4 FY20. The Q4 earnings were announced after trading hours on Friday, 25 June 2021.
The board recommended a dividend of Rs 4.40 per equity share for the FY2020-21.
During the financial year, MSTC's consolidated net profit climbed 16.43% to Rs 112.95 crore on 36.61% fall in revenue from operations to Rs 780.46 crore in FY 2021 over FY 2020.
MSTC undertakes marketing of ferrous and miscellaneous scrap arising from integrated steel plants, engineering companies, refineries, power plants, coal and transport sector, defence and other government departments / private sector organisations in the domestic market. As of 31 March 2021, the Government of India held 64.74% stake in the company.
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